Anyone have insight into the strategy for Canada, particularly downstream? How are the sites doing relative to other sites?
8 replies (most recent on top)
With the Ineos plant in Sarnia having so many issues, it becomes more challenging for the IOL Sarnia refinery to produce gasoline. It will now have to ship its benzene somewhere else, which is more costly and less competitive. Bye bye Sarnia!
Sarnia and Nanticoke will go away in the next wave. Could be a combo with Joliet (creative deal potential).
Just announced closure of Sarnia research center... writing is on the wall for the whole site. And Nanticoke is just a hole.
The only downstream site still getting bags of money is Strathcona. Sarnia is making money right now, quite a bit of it actually, but 0 investments. It is basically getting squeezed for the last few drops before getting sold off like Billings and Torrance.
@pph IOL is almost 70% owned by ExxonMobil so it’s quite okay to discuss here. Nanticoke has been on the auction block more than once and likely Sarnia is as well since some major expansion projects
have been pass over lately.
Doing better now that KH has gone back to Baytown
Sarnia and Nanticoke are poor aging assets. Definitely a buy 1 get 1 free situation.
Those are Imperial Oil assets, you should ask on the IOL page on this site.